The consumers can pay their annual insurance premiums for participating companies with a click of a mouse and their Visa Debit or Credit card by logging on to www.visabillpay.in or the participating insurance company websites, Visa said in a statement here.

For cardholders who prefer other payment channels there are options to pay over the phone through their insurance company call centre or sign a standing instruction with their bank to pay their insurance company through their Visa card. Visas payment options also help insurance companies enhance operational efficiency by enabling timely payment, the statement said.

Payment via Visa cards also helps insurance companies reduce handling costs through automating the payment process, which in turn can speed up customer service and improve consumer perceptions.